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Analysts Offer Insights on Consumer Goods Companies: Campbell Soup (CPB) and China Mengniu Dairy Co (OtherCIADF)
Jefferies Adjusts China Mengniu Dairy's Price Target to HK$28.40 From HK$32.60, Keeps at Buy
Global Equities Roundup: Market Talk
China Mengniu Dairy May Continue Facing Demand Weakness in 2H -- Market Talk
[Brokerage Focus] Bocom Intl pointed out that Mengniu Dairy (02319) performed better than expected in the first half of the year, but lowered the target price by 25.4%.
Jingu Finance | Bocom Intl's research report pointed out that mengniu dairy (02319) performed better than expected in the first half of the year, with a 12.6% year-on-year decrease in revenue, a 1.9 percentage point increase in gross margin, and a 0.6 percentage point increase in operational profit margin. Net income dropped by 19% year-on-year, with a net income margin of 5.5%. The bank indicated that ambient liquid milk faces challenges, but mengniu's high-end products offset some of the industry's downward pressure. The business of low-temperature yogurt achieved growth against the trend. The high-end fresh milk business showed double-digit growth, outperforming the industry. Despite double-digit revenue decline, management still adheres to the expansion target of the operational profit margin set at the beginning of the year.
China Mengniu Dairy Co (CIADF) Gets a Buy From DBS
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